Foreign Institutional Investor means an institution or Pension Fund, Mutual Fund, Investment Trust, Asset Management Company, Bank, Nominee Company and Incorporated / Institutional Portfolio Manager or their Power of Attorney holder established or incorporated outside India which proposes to make investment in India in securities, it also includes domestic asset management company or domestic portfolio manager who manages funds raised or collected or brought from outside India for investment in India on behalf of a sub-account, shall be deemed to be a Foreign Institutional Investor.
Foreign Institutional Investors have been permitted to invest in Indian securities markets since September 1992 when the Government of India issued the Guidelines for Foreign Institutional Investment. In November 1995, the SEBI (Foreign Institutional Investors) Regulations, 1995 have been notified based on the earlier guidelines There are around 500 FIIs registered in India at present.
Foreign Institutional Investors (FII) include the following foreign based categories:
- Pension Funds
- Mutual Funds
- Investment Trust
- Insurance or reinsurance companies
- Investment Trusts
- Banks
- Endowments
- University Funds
- Foundations
- Charitable Trusts or Charitable Societies
No comments